Royal Mail posts strong rise in profits as parcels improve

Royal Mail posts strong rise in profits as parcels improve

Royal Mail's annual profits have jumped 25% thanks to better-than-expected growth in its parcel delivery business.

Parcel deliveries rose 9% thanks to shoppers' insatiable appetite for online shopping, although the number of letters posted fell by 6%.

Bosses put the rise in parcels down to upgraded computer systems, which allow the packages to be sorted faster.

Pre-tax profits rose to ?335m in the year to 26 March from ?267m, while revenues grew 5.7% to ?9.8bn.

Chief executive Moya Greene said: "We have made good progress against all of our strategic priorities. This has been a more challenging period for UK businesses and we have come through it well."



Add Comment

all comments

  Other news

more
Remember Coronation Street's Maxine Peacock? This is what Tracy Shaw has been up to leaving the ITV soap

Remember Coronation Street's Maxine Peacock? This is what Tracy Shaw has been up to leaving..

27-Jul, 14:10

It's been 14 years since Ashley Peacock's fiery wife Maxine was murdered...

Judge in Uber-Waymo suit says Google co-founder Sergey Brin 'better show up'

Judge in Uber-Waymo suit says Google co-founder Sergey Brin 'better show up'..

27-Jul, 14:40

Google co-founder Sergey Brin after riding in a driverless car at Google...

Legoland pirate stunt show performer injured in fall

Legoland pirate stunt show performer injured in fall..

27-Jul, 14:01

A stunt show at Legoland has been shut down after a performer was injured...

Michelle Keegan larks around with co-star on set of Our Girl

Michelle Keegan larks around with co-star on set of Our Girl..

27-Jul, 08:40

She has the gruelling task of playing an army officer in BBC drama Our...

McConnell delays health care vote while McCain recuperates from surgery

McConnell delays health care vote while McCain recuperates from surgery..

16-Jul, 01:56

The U.S. Senate will delay its consideration of healthcare legislation...

Take Good Care of The Fridge Episode 116

Take Good Care of The Fridge Episode 116..

30-Jan, 22:31

The following Take Good Care of The Fridge Episode 116 English Sub has...

Flynn's lawyer told Trump team about lobbying during transition

Flynn's lawyer told Trump team about lobbying during transition..

10-Mar, 15:54

A lawyer for retired Lt. Gen. Michael Flynn contacted an attorney for the...

'Dick Van Dyke Show' Creator on Casting Mary Tyler Moore

'Dick Van Dyke Show' Creator on Casting Mary Tyler Moore..

26-Jan, 15:12

Carl Reiner, creator of "The Dick Van Dyke Show," remembers the day Mary...